Dover Co. (NYSE:DOV) Receives $214.18 Average Price Target from Analysts

Shares of Dover Co. (NYSE:DOV) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $214.18.

Several analysts have issued reports on DOV shares. The Goldman Sachs Group raised their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays raised their price target on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. UBS Group started coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective on the stock. Citigroup lifted their target price on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Mizuho upped their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Dover in the 3rd quarter worth approximately $33,000. Fairscale Capital LLC acquired a new position in shares of Dover during the second quarter worth $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover during the 2nd quarter valued at $41,000. Avior Wealth Management LLC boosted its position in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in Dover during the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 2.1 %

NYSE DOV opened at $183.36 on Wednesday. Dover has a 52 week low of $143.96 and a 52 week high of $208.26. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.70 and a beta of 1.23. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $196.88 and a two-hundred day moving average of $188.53.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s payout ratio is 18.43%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.